If you look up the word liable in the dictionary, you will
find that it means to be subject to an obligation or exposed
to a possibility or risk. In other words, to be liable means
to be responsible. Liability is the word used in our legal system
to describe the circumstance for some particular responsibility.
Liability is the state of being liable. For example, under the
Income Tax Act residents of Canada are liable to pay taxes
on their income. They have a liability for income tax.
